A vast majority (77%) of consumers have less than one month’s average salary. There has been a 15% decrease in the number of individuals with over £2,500 in their current account since 2021

While the decision to hold the base rate at 4.5% means interest rates on current and savings accounts are unlikely to shift in the short term,

Taking the first steps toward financial independence can often feel daunting. However, building the knowledge and skills to make financial decisions ultimately builds financial resilience and wellbeing.

“While the implications of today’s decision to lower the base rate may not be felt immediately, there will be important considerations for consumers going forward. 

Often called the most depressing day of the year, Blue Monday comes at a time when the New Year good feeling has worn off, and post-holiday season bills, cold weather, darker nights and a lack of motivation can make everything feel harder.

With Valentines’ Day approaching, couples across the UK will be taking time to reflect on and celebrate their relationship.

“While this may stabilise falling rates on savings accounts, banks are still having to find new ways to compete for customers.

New research from Pay.UK highlights a stark generational divide in financial confidence, with only 25% of Gen Z feeling “very confident” managing their finances, compared to 47% of Baby Boomers.